On Friday ten year and thirty year U.S. Treasury yields dipped as investors continued to wait for the result of the presidential election. The yield on the benchmark 10-year Treasury note fell to 0.775% at 4:47 a.m. ET, while the yield on the 30-year Treasury bond dropped to 1.535%. Yields move inversely to prices.
Treasury yields ebbed lower as the outcome of the U.S. election race remained uncertain. Democratic candidate Joe Biden has been chipping away at President Donald Trump’s leads in the key swing states of Georgia and Pennsylvania.
Former Vice President Biden also holds narrow leads in Nevada and Arizona, where votes are still being counted. An NBC News tally shows that Biden has gained 253 electoral votes, just 17 votes shy of the 270 needed to win the White House.
Confirmed cases of the coronavirus continue to surge in the U.S., with the daily count of new infections reaching 121,888 on Thursday, according to data compiled by Johns Hopkins University.
The U.S. Federal Reserve kept benchmark interest rates anchored between 0%-0.25% on Thursday, as it said economic activity in the U.S. remained “well below” pre-pandemic levels.